Opportunity Zones Sparks the Puerto Rico Investment Summit

Opportunity Zones has become the new, hot topic at the Puerto Rico Investment Summit, a premier investment conference known for its comprehensive coverage of the Island's unique tax incentive laws and investment opportunities. Two complete sessions will be dedicated to Opportunity Zones, covering both technical and practical sides, showcasing opportunities on the Island.

6th edition of P.R. Investment Summit set for Feb. 14-15

6th Edition of the Puerto Rico Investment Summit Set for February

The 6th edition of Puerto Rico’s premier investment conference, Puerto Rico Investment Summit, will take place on February 14th and 15th, 2019, at the newly renovated El San Juan Hotel, in Isla Verde. Each year, over 400 investors and business owners gather to learn about the tax incentives, competitive advantages, and opportunities that make Puerto Rico a unique destination.

The Comeback Story – Puerto Rico

International financial entities in Puerto Rico

International Financial Entities (IFEs) are licensed and regulated by the Office of the Commissioner of Financial Institutions pursuant to Act No. 273 of September 25, 2012, as amended (the IFE Act) and Regulation No. 5653. The IFE Act prospectively replaces the International Banking Entities (IBEs) under the former International Banking Regulatory Act, Act No. 52 of 1989, and offers tax incentives to IFEs that set up operations in Puerto Rico, subject to the licensing requirement and regulatory powers of the Commissioner.

Why “Qualified Opportunity Zones” May Be the Next Hot Thing in Investing

Puerto Rico issues its own Opportunity Zone legislation

The U.S. Tax Reform created a new rule under the U.S. Internal Revenue Code of 1986, as amended (the “US Code”), that allows investors to defer the recognition of capital gains by investing in a Qualified Opportunity Fund that invests in Qualified Opportunity Zones. As part of this legislation, almost 95% of Puerto Rico was designated as an Opportunity Zone.

Cryptocurrency investors flock to Puerto Rico Investment Summit

SAN JUAN, Puerto Rico (Reuters) - Puerto Rico’s annual investment summit, a two-day conference to woo investors to the bankrupt U.S. territory and the first since Hurricane Maria devastated the island, sported some new faces, particularly from the fast-growing cryptocurrency world.

Puerto Rico Investment Summit to showcase opportunities

The fifth edition of the Puerto Rico Investment Summit that kicks off Feb. 12 in San Juan will focus on new business possibilities on the island after the devastating Hurricane Maria passed across Puerto Rico last year. The event was slated for October 2017, but the conditions in Puerto Rico just weeks after storm led to its postponement until 2018.

El Puerto Rico Investment Summit busca seducir a inversionistas

2018: Starting down Puerto Rico’s road to economic prosperity

In 2017, Puerto Rico suffered the most critical disaster in 100 years when it sustained a direct hit from Hurricane Maria. But while our priority and focus remains on saving lives, restoring basic services to the most vulnerable segments of our society and helping businesses return to normal operations, we must also look to the future of the new, stronger 21st century Puerto Rico we will build in 2018 and beyond. Now is the time to look to the future, not the past, and to tackle these challenges head-on in order to facilitate the investments necessary for Puerto Rico to not only recover, but evolve and modernize its infrastructure and economy.

Could Puerto Rico Be the Next Hot Tax Haven?

Some 65,000 Puerto Ricans left their bankrupt U.S. island commonwealth last year. A group of private bankers are moving the other way. They’re increasingly opening offshore banks known as International Financial Entities, which were created by a Puerto Rican law in 2012. There are 44 IFEs now, with 18 opening in the past year, according to data compiled by the U.S. territory’s financial regulator. “Just in the last six months, we’ve probably closed seven deals for international banks,” says Ryan Christiansen, president of Christiansen Commercial Real Estate, a brokerage based in Puerto Rico that leases office space.

Puerto Rico: The Tale of Two Economies

Puerto Rico (PR) has received a lot of bad press recently because of its critical fiscal situation. Yes, the Commonwealth of PR is $72 billion in debt, and past governments have been mismanaging the Island’s public funds for over 30 years. The U.S. Congress is partly to blame for this debacle. However, that’s now water under the bridge, the public sector is currently being restructured by U.S. House of Representatives; project #5278, PROMESA. I’d like to talk about the other - less publicized - side of the coin. There is obviously a second economy at play here; the private economy.

Puerto Rico is in a dire financial situation, as the island is a record $120 billion[1] in debt. For some perspective, that is more debt than almost half the states have combined on the state-level, according to U.S Census Bureau data. Climbing out of this deficit may prove especially difficult, as President Trump currently opposes any form of federal bailout for the territory.

Puerto Rico governor further relaxes tax incentive Acts 20, 22

SAN JUAN – Gov. Ricardo Rosselló signed Tuesday a series of amendments to Acts 20 and 22 of 2012 to reduce the “bureaucratic requirements” for those who want to benefit from their potential. The tax incentive laws were designed to foster the export of services and attract foreign investors to Puerto Rico, respectively.

Consider all Factors to Take Advantage of Acts 20/22’s Amazing Incentives

As one of the first recipients to move to Puerto Rico in 2013 and the founder of The 20/22 Act Society, I have witnessed firsthand the growth of the amazing incentives under Acts 20 & 22 of 2012. We are constantly telling potential recipients that they need to consider multiple factors in making their move, such as lifestyle, culture, cost of living, and not only the incentives under the program. As part of this role, we always try to emphasize that properly complying with the sourcing rules lands much stronger on the Internal Revenue Service (IRS) side than on the Treasury Department (Hacienda) side, although I think it is a valid point to say you now serve two masters rather than having escaped one.

Nuevo motor para la economía

Biogen Launches Operations in Guayama

SAN JUAN — To the tune of more than $92 million, biotechnology company Biogen will set up shop at the former facilities of Eli-Lilly in Guayama, seeking to create 350 jobs within the next five years, La Fortaleza announced Monday.

Governor announces jobs created by Lockheed Martin

Lufthansa Technik Puerto Rico Opens 3rd Bay

SAN JUAN – Aguadilla-based aircraft maintenance, repair and overhaul company Lufthansa Technik Puerto Rico has started operating its third bay at the beginning of July. The new bay is a heavy maintenance line performing C-Checks and cabin modifications similar to the existing two operating bays in the hangar. It will be the second line for Spirit Airlines.

Honeywell Inaugurates Research & Tech Center in Moca

SAN JUAN — With a more than $40 million investment, Honeywell inaugurated Tuesday its new Research & Technology Center in Moca, as Puerto Rico continues to bet on the development of an aerospace industry cluster centered on the island’s northwest region.

The Act 20/22 Study

Tax incentives created by Acts 20 and 22 of 2012 to promote exports and attract investors should remain in place because they can boost Puerto Rico’s economic development, with several thousand new jobs created thus far and millions of dollars invested in local real estate, but the public and private sectors still need to capture their spillover effects, a study commissioned by the Economic Development & Commerce Department (DDEC by its Spanish acronym) has found.

Puerto Rico Investment Summit set for Feb. 2016

After two successful events aimed at the U.S. market, and a first Latin American edition this year, organizers for the Puerto Rico Investment Summit announced Thursday that the 2016 edition will be held Feb. 11-12, at the Convention Center in San Juan.

Island seals its pitch at Puerto Rico Investment Summit

The latest edition of the Puerto Rico Investment Summit, which ended Tuesday at the Condado Vanderbilt Hotel in San Juan, focused on attracting business players from Spain and Latin America to the island as an investment destination and entry point to the U.S. mainland market.

NEW PUERTO RICO CAMPAIGN TO ATTRACT LATIN AMERICAN AND SPANISH INVESTMENT

Puerto Rico this coming week will try to sell itself to Latin American and Spanish investors as one of the hemisphere's best locations in which to invest, an effort to attract foreign capital to help it pull out of the recession in which it has been mired for almost a decade.

Puerto Rico Investment Summit seeks to open doors to US market

The Puerto Rico Investment Summit - LATAM Edition on May 18 and 19 aims to bring entrepreneurs and investors closer to the options the island offers as a gateway to the U.S., and as an investment destination.